TRENTON - A New Jersey Senate legislative oversight committee heard testimony from the chairman of the Port Authority of New York & New Jersey Wednesday. This was part of an ongoing effort to keep a closer watch of the agency.

Port Authority Chairman John Degnan presented the agency’s 10-year capital plan, including how much important projects will cost. 

Members of the committee questioned Degnan about the plan. Their biggest question was why there was no money set aside in the budget for the recently approved rebuilding of the Port Authority Bus Terminal in Manhattan. It is estimated that the project could cost up to $10 billion.

Degnan told the committee that the capital planning is a “living process” and the budget for the new terminal should be included in the next draft of the plan.

Degnan also announced that the Port Authority should be given a list of finalists for the new CEO position sometime in November. He says that the board could make a final decision on the new CEO by its Dec. 10 meeting.

The CEO position was created as part of wide-ranging reform efforts at the Port Authority in the wake of the Bridge-Gate scandal and other embarrassing revelations at the agency.

The new position will replace the positions of executive director, who's appointed by the governor of New York, and the deputy executive director, appointed by the governor of New Jersey.

Other projects such as the Gateway Tunnel Project and PATH train extension to Newark Liberty International Airport were also discussed. Wednesday’s hearing was the fourth one held.